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L
IFE FOR THE
CFo has never been more challenging. As
the downward spiral in the economy continues, CFos are
focusing on spending less money and cutting costs where
necessary. However, the explosion of electronically stored
information (esi) and changing regulatory landscape, together
with the turbulent economy, are creating a perfect storm of
rising, out-of-control litigation costs.
CFos can gain better visibility and control in company
litigation expenditures through new cost and efficiency
discovery management models. Alternatives to traditional
discovery can help CFos take back control of litigation spend-
ing while remaining highly collaborative with outside counsel.
Cut Back on Collection
discovery often goes off the rails cost-wise during the
stage known as collection. there is a tendency to over-collect
documents in an effort to make sure that all documents are
produced and reviewed.
there are two main methods for making sure collection is
done properly, which save on costs as well as prove to be
defensible when questioned by the opposing side: conducting
interviews with custodians of documents and using targeted
collections in order to avoid over-collecting.
Let’s say you are working on an employment lawsuit for
which you need to collect all documents relating to an
employee we’ll call John doe. the custodian of the documents
is John’s manager, Jane smith. instead of collecting all emails
and server documents from Jane, try spending a short time
with her. You should be able to retrieve what is likely
E-discovery can offset the challenges of ESI explosion,
changing regulations, and economic upset, says Update Discovery.
By Johanny Olmedo and Adam Algaze,
Update Discovery Co-Directors
Keeping Better Track
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2011